What Can I Do To Prevent Family Disputes Over My Assets After I Am Gone?
Thinking about the possibility of death is always a sobering and somber exercise. When facing your own mortality, it can be easy to forget about corporeal things such as property. However, with death property doesn’t simply disappear and there’s even a distinct possibility that family members may engage in lengthy and emotionally painful disputes over who deserves what. There are ways to protect your family against this kind of pain and ensure that your property is distributed according to your true wishes. We’re here to share how to prevent family conflicts.
Dictate How To Distribute Personal Property
The most commonly contested items are sentimental pieces of personal property. After all, the money in your bank account or the title of your house can be split multiple ways without a problem. However, each of the items that your family remembers you by can’t go to everyone. That’s why it’s important to outline clearly during estate planning exactly who gets what. Make sure to detail distribution of jewelry, antiques or anything else likely to hold significant emotional value to your beneficiaries.
Create a Plan While You Are Healthy
The importance of having a proper plan for all parts of your estate with direct instructions for distribution cannot be overstated. It’s also important to develop it while in good health and a sound state of mind. This way you will both be able to devote the time necessary to complete a thorough plan and communicate your wishes clearly to all beneficiaries. In turn, this can reduce the likelihood of arguments about how you wanted things distributed.
Rely on a Revocable Living Trust
Using a revocable living trust to dictate your distribution plan can help you avoid the probate process. This in turn can help mitigate the chances of disagreements as your property is distributed more directly.
If all of this sounds overwhelming that’s perfectly fine, it can be extremely challenging to protect your family from disputes without the help of experienced professionals. That’s why we would like to recommend our services. At Morgan Legal Group we offer estate planning services to help you set up a trust or devise a clear and thorough will. We pride ourselves on the commitment we make to every client and can’t wait to help you defend the people you care about.